Retail Building with Vacant
For Sale
$1,250,000
1000 N Cage Boulevard, Pharr, TX 78577
Commercial Sale, Pharr, TX
Property Size6,264 SF
Lot Size0.52 Acres
Price / SF$199.55
Days on Market235
Property Features for 1000 N Cage Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B
Parking
30
Appliances
Electric Water Heater
Subdivision
Browning
Lot features
Strip Mall
Directions
From I-2/Expressway 83, exit north onto N Cage Blvd and continue approximately 1 mile. Property is located on the east side of N Cage Blvd at 1000 N Cage Blvd, Pharr, TX 78577.
Standard status
Active
APN
B470000000000200
Size
6,264 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19822
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
2014
Floors in Building
1
Building materials
Stucco
Roof type
Flat
Listing Agency:
API Real Estate
(956) 412-1412
Listed By:
Sergio A. Adame · License #0534881
(210) 845-4419
Added: Feb 5
Changed: Sep 5
Last Checked: Sep 28 at 5:06PM
MLS# 493594
Copyright © 2026 Greater McAllen Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,264-square-foot retail property was built in 2014 on 0.5165 acres. The building has stucco construction, a flat roof, central heating, central air conditioning, and an electric water heater. Vacant spaces are available for lease, providing flexibility for an owner-user or an owner leasing portions of the property.
Located at 1000 N Cage Boulevard in Pharr, the property fronts an established commercial corridor with access to I-2/Expressway 83. The surrounding area includes national retailers, dense residential neighborhoods, and daytime population. B zoning supports the property's commercial positioning, while the existing retail improvements provide a current building framework for occupancy or leasing.
Located at 1000 N Cage Boulevard in Pharr, the property fronts an established commercial corridor with access to I-2/Expressway 83. The surrounding area includes national retailers, dense residential neighborhoods, and daytime population. B zoning supports the property's commercial positioning, while the existing retail improvements provide a current building framework for occupancy or leasing.
Key Highlights
- 6,264‑square‑foot retail property on 0.5165 acres
- Built in 2014 with stucco construction and a flat roof
- Vacant spaces available for lease
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,578
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,691,560
$1.7M
Cap Rate 7%
$1,208,257
$1.2M
Cap Rate 9%
$939,756
$939.8K
Market Conditions
NOI Build-Up for 6,264 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$128.5K $20.52/SF
− Vacancy
−$7.7K −$1.23/SF
EGI
$120.8K $19.29/SF
− OpEx
−$36.2K −$5.79/SF
NOI
$84.6K $13.50/SF
Area
Hidalgo County, TX
Vacancy
6.00%
Lease Rate
$20.52 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,691,560
Cap Rate 7%
$1,208,257
Cap Rate 9%
$939,756
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,578 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$4.72M
$4.13M – $5.50M
NOI $330,269 @ 7.0% cap · market cap 26.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Whataburger
Dining
20,911 visits/mo
0.2 miles
Valero Energy
Shops & Services
13,240 visits/mo
0.0 miles
Stripes
Shops & Services
11,790 visits/mo
0.0 miles
O'Reilly Auto Parts
Shops & Services
5,240 visits/mo
0.3 miles
Enterprise Rent-A-Car
Shops & Services
3,196 visits/mo
0.4 miles
Demographics for 78577, TX
79,937
Population
26,568
Households
3
Avg Household Size
30
Median Age
18%
College-Educated
70%
High-School Grad
26.0 sq mi
ZIP Area
3,075
Density / Sq Mi
$49,768
Median Household Income
$28,186
Median Earnings
$988
Median Rent
$111,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - B-zoned commercial property with central HVAC and access to I-2/Expressway 83.
Where is this retail space located?
The property is located at 1000 N Cage Boulevard Pharr, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6,264‑square‑foot retail property on 0.5165 acres; Built in 2014 with stucco construction and a flat roof; Vacant spaces available for lease
